66-68 greenpoint avenue - Massey Knakal
FOR SALE
66-68 GREENPOINT AVENUE Greenpoint, Brooklyn
2 ELEVATOR COMMERCIAL BUILDINGS WITH AIR RIGHTS
Property Features Location
South side of Greenpoint Avenue between Franklin Street and West Street
Block / Lot Combined Lot Dimensions Combined Lot Size Building Dimensions Building Dimensions Gross Building Size Stories Commercial Units Zoning Residential FAR Commercial FAR Total Development Rights Available Air Rights Combined Assessment (17/18) Combined Taxes (17/18)
2562 / 15 & 16 48’ x 95.58’ 4,588 SF 48’ x 95’ 48’ x 55’ 11,040 SF 4 5 M1-2/R6A 2.70 2.00 12,388 BSF 1,348 BSF $484,984 $50,991
Ground Floor & Basement Floors 2-4
Up to 3.60 With IH
Up to 16,517 BSF w/ IH Up to 5,477 BSF w/ IH Tax Class 4
Information presented herein is subject to change and should be individually verified All measurements and square footage estimates are approximate • Two mixed-use buildings with two retail units built full on the lot and floorthrough commercial spaces on the upper floors serviced by a shared elevator • Combined 4,560 SF of retail space - one unit is leased to a bar on a M-to-M basis, the other to a restaurant until August 2027 with a 5 year renewal option • The top floor is leased to a yoga studio through June 2020
G Greenpoint Av
20 min to Grand Central via 7 7 train
• Floors 2 and 3 are currently vacant offering floor-through commercial space • The asset may benefit from an additional 5,477 SF of market-rate air rights (market-rate Inclusionary Air Rights are available for purchase from a separate seller) • Located on the same block as the Greenpoint Avenue G train station and less than five (5) blocks from the East River Ferry terminal
East River Ferry 5 Blocks
66-68 GREENPOINT
G
Greenpoint Asking Price
$8,500,000
• Outstanding location on Greenpoint Avenue surrounded by neighborhood renowned restaurants, bars and cafes including Paulie Gee’s, 21 Greenpoint, No.7 North, Maman, Budin, Black Rabbit, Ramona, French Epi, The Bounty as well as several banks and grocery stores • With over 7,000 new residential units in the pipeline, the Greenpoint waterfront developments are expected to dramatically increase foot traffic along West Street and Franklin Street corridors
For further information, please contact exclusive agents: Brendan Maddigan
Ethan Stanton
718 307 6507
718 307 6553
Mark Lively
Michael Gigante
718 307 6524
718 307 6555
Michael Purcell
Nicole Daniggelis
718 307 6550
718 307 6506
Executive Managing Director [email protected]
Director
[email protected]
CUSHMAN & WAKEFIELD REALTY OF BROOKLYN, LLC One Pierrepont Plaza, 9th Floor, Suite 2, Brooklyn, NY 11201 cushmanwakefield.com
Associate
[email protected]
Director
[email protected]
Associate Director
[email protected]
Associate
[email protected]
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE
66-68 GREENPOINT AVENUE Greenpoint, Brooklyn
Click to view additional photos REVENUE UNIT
TYPE
STATUS
S.F.
$ / S.F.
MONTHLY RENT
Bar
M-to-M
2,050
$70
$12,000
$144,000
Di An Di*
Restaurant
Aug-27
2,050
$50
$8,500
$102,000
Floor 2
Commercial
Vacant
1,835
$50
$7,650
$91,800
Tender Trap
ANNUAL RENT
Floor 3
Commercial
Vacant
1,835
$50
$7,650
$91,800
New Love City**
Yoga Studio
Jun-20
1,835
$43
$6,615
$79,380
$1,250
$15,000
Tax pass-through income up to a maximum of $15,000 per year (Di An Di) 50% of heat, 85% water & sewer, 100% of gas and 95% of PLP pass-through income (Di An Di) TOTAL
9,605
$56
$1,250 $44,915
$15,000 $538,980
S.F. estimated using 10% loss factor on ground floor and 15% on upper floors. All figures are approximate and should be independently verified. * Di An Di lease - 3% annual rent increases; 5-year renewal option with 5% annual rent increases ** New Love City lease - 5% annual rent increases
EXPENSES Real Estate Taxes (17/18)
Full bill shown; partially paid by tenants
Insurance
Provided by Owner
$50,991 $11,700
Fuel (Gas)
Provided by Owner. Full bill shown; partially paid by tenants
Water/Sewer
Provided by Owner
$3,783
$15,000
Common Electric
Provided by Owner
$4,000
Elevator
Provided by Owner
$8,000
Repairs & Maintenance
Estimated at 3% of the gross annual revenue
$16,169
Management & Vacancy
Estimated at 5% of the gross annual revenue
$26,949
TOTAL EXPENSES
$136,593
NOI
Asking Price
$8,500,000
$402,387
For further information, please contact exclusive agents: Brendan Maddigan
Ethan Stanton
Mark Lively
718 307 6507
718 307 6553
718 307 6524
Michael Gigante
Michael Purcell
Nicole Daniggelis
718 307 6555
718 307 6550
718 307 6506
Executive Managing Director [email protected]
CUSHMAN & WAKEFIELD REALTY OF BROOKLYN, LLC One Pierrepont Plaza, 9th Floor, Suite 2 Brooklyn, NY 11201 cushmanwakefield.com
Associate Director
[email protected]
Director
[email protected]
Associate
[email protected]
Director
[email protected]
Associate
[email protected]
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
66-68 GREENPOINT AVENUE Greenpoint, Brooklyn
2 ELEVATOR COMMERCIAL BUILDINGS WITH AIR RIGHTS
Property Features Location
South side of Greenpoint Avenue between Franklin Street and West Street
Block / Lot Combined Lot Dimensions Combined Lot Size Building Dimensions Building Dimensions Gross Building Size Stories Commercial Units Zoning Residential FAR Commercial FAR Total Development Rights Available Air Rights Combined Assessment (17/18) Combined Taxes (17/18)
2562 / 15 & 16 48’ x 95.58’ 4,588 SF 48’ x 95’ 48’ x 55’ 11,040 SF 4 5 M1-2/R6A 2.70 2.00 12,388 BSF 1,348 BSF $484,984 $50,991
Ground Floor & Basement Floors 2-4
Up to 3.60 With IH
Up to 16,517 BSF w/ IH Up to 5,477 BSF w/ IH Tax Class 4
Information presented herein is subject to change and should be individually verified All measurements and square footage estimates are approximate • Two mixed-use buildings with two retail units built full on the lot and floorthrough commercial spaces on the upper floors serviced by a shared elevator • Combined 4,560 SF of retail space - one unit is leased to a bar on a M-to-M basis, the other to a restaurant until August 2027 with a 5 year renewal option • The top floor is leased to a yoga studio through June 2020
G Greenpoint Av
20 min to Grand Central via 7 7 train
• Floors 2 and 3 are currently vacant offering floor-through commercial space • The asset may benefit from an additional 5,477 SF of market-rate air rights (market-rate Inclusionary Air Rights are available for purchase from a separate seller) • Located on the same block as the Greenpoint Avenue G train station and less than five (5) blocks from the East River Ferry terminal
East River Ferry 5 Blocks
66-68 GREENPOINT
G
Greenpoint Asking Price
$8,500,000
• Outstanding location on Greenpoint Avenue surrounded by neighborhood renowned restaurants, bars and cafes including Paulie Gee’s, 21 Greenpoint, No.7 North, Maman, Budin, Black Rabbit, Ramona, French Epi, The Bounty as well as several banks and grocery stores • With over 7,000 new residential units in the pipeline, the Greenpoint waterfront developments are expected to dramatically increase foot traffic along West Street and Franklin Street corridors
For further information, please contact exclusive agents: Brendan Maddigan
Ethan Stanton
718 307 6507
718 307 6553
Mark Lively
Michael Gigante
718 307 6524
718 307 6555
Michael Purcell
Nicole Daniggelis
718 307 6550
718 307 6506
Executive Managing Director [email protected]
Director
[email protected]
CUSHMAN & WAKEFIELD REALTY OF BROOKLYN, LLC One Pierrepont Plaza, 9th Floor, Suite 2, Brooklyn, NY 11201 cushmanwakefield.com
Associate
[email protected]
Director
[email protected]
Associate Director
[email protected]
Associate
[email protected]
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE
66-68 GREENPOINT AVENUE Greenpoint, Brooklyn
Click to view additional photos REVENUE UNIT
TYPE
STATUS
S.F.
$ / S.F.
MONTHLY RENT
Bar
M-to-M
2,050
$70
$12,000
$144,000
Di An Di*
Restaurant
Aug-27
2,050
$50
$8,500
$102,000
Floor 2
Commercial
Vacant
1,835
$50
$7,650
$91,800
Tender Trap
ANNUAL RENT
Floor 3
Commercial
Vacant
1,835
$50
$7,650
$91,800
New Love City**
Yoga Studio
Jun-20
1,835
$43
$6,615
$79,380
$1,250
$15,000
Tax pass-through income up to a maximum of $15,000 per year (Di An Di) 50% of heat, 85% water & sewer, 100% of gas and 95% of PLP pass-through income (Di An Di) TOTAL
9,605
$56
$1,250 $44,915
$15,000 $538,980
S.F. estimated using 10% loss factor on ground floor and 15% on upper floors. All figures are approximate and should be independently verified. * Di An Di lease - 3% annual rent increases; 5-year renewal option with 5% annual rent increases ** New Love City lease - 5% annual rent increases
EXPENSES Real Estate Taxes (17/18)
Full bill shown; partially paid by tenants
Insurance
Provided by Owner
$50,991 $11,700
Fuel (Gas)
Provided by Owner. Full bill shown; partially paid by tenants
Water/Sewer
Provided by Owner
$3,783
$15,000
Common Electric
Provided by Owner
$4,000
Elevator
Provided by Owner
$8,000
Repairs & Maintenance
Estimated at 3% of the gross annual revenue
$16,169
Management & Vacancy
Estimated at 5% of the gross annual revenue
$26,949
TOTAL EXPENSES
$136,593
NOI
Asking Price
$8,500,000
$402,387
For further information, please contact exclusive agents: Brendan Maddigan
Ethan Stanton
Mark Lively
718 307 6507
718 307 6553
718 307 6524
Michael Gigante
Michael Purcell
Nicole Daniggelis
718 307 6555
718 307 6550
718 307 6506
Executive Managing Director [email protected]
CUSHMAN & WAKEFIELD REALTY OF BROOKLYN, LLC One Pierrepont Plaza, 9th Floor, Suite 2 Brooklyn, NY 11201 cushmanwakefield.com
Associate Director
[email protected]
Director
[email protected]
Associate
[email protected]
Director
[email protected]
Associate
[email protected]
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
